J Sainsbury second-quarter comparable sales up 4.1%

SarahTurner

LONDON (MarketWatch) -- Supermarket J Sainsbury
SBRY, -0.06%
said Friday that second-quarter comparable sales rose 4.1%, or 2.8% excluding fuel, while total sales rose 6.6%. The company said it produced a good sales performance duing a challenging period in the retail sector and has grown market share. "Our plans for the recovery of our business are on track," the company said. The company said its banking business also operated in challenging market conditions during the quarter and it has now increased bad debt provision levels. The bank will report a small loss in the first half of this year, the company said.

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